Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Increased Demand Contributes To Power Price Rise

8 May 2001
Increased Demand Contributes To Electricity Price Rise In April

New Zealanders increased their electricity consumption last month in response to cooler temperatures, contributing to a substantial rise in average wholesale electricity prices. Average demand for April was up 1% from the same time last year.

Seasonally low rainfall during the month saw storage levels in the country’s main hydro lakes continue their downward trend. At the end of April national storage was at 2,214 GW/h, 74% of the average for that time of year, with South Island storage at 78% of average.

A key generation facility was out for much of April for routine maintenance, removing around 350 MW of capacity from the wholesale market. This, together with transmission constraints around Benmore in the South Island, also contributed to the increase in average wholesale prices during the month.

Monthly average prices at the two reference point locations climbed significantly in April. However, current average wholesale prices have decreased from the previous high.

Benmore, the South Island reference point, showed a marked increase in the average monthly price to 6.46 c/kWh in April, up from 5.02 c/kWh in March. The lower North Island reference point at Haywards recorded a similar price increase to 6.74 c/kWh, up from March’s figure of 5.18 c/kWh. The average price at Otahuhu, the reference point for the upper North Island, also rose to 6.73 c/kWh from 5.29 c/kWh.

-ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news